Mink Brook buys 1,358 DLH Holdings shares near $4

Ten percent owner Mink Brook Asset Management reported small open-market DLHC share purchases through its funds and detailed large existing indirect holdings.

Rhea-AI Filing Summary

DLH Holdings Corp. (DLHC) received a Form 4 from Mink Brook Asset Management LLC, a ten percent owner, reporting open-market purchases of Common Stock. On September 4, 2026, an affiliated fund bought 870 shares at a weighted average price of $4.0974 per share, and on September 8, 2026 it bought 488 shares at a weighted average price of $3.9923 per share, for total reported purchases of 1,358 shares, all held indirectly through Mink Brook Partners LP. A related holding entry reports 694,322 shares held indirectly through Mink Brook Opportunity Fund LP. Footnotes state Mink Brook Asset Management LLC and related parties may be deemed to beneficially own these securities but disclaim beneficial ownership except to the extent of their pecuniary interest, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 1,358 shares

Net Buy 3 txns

Insider Mink Brook Asset Management LLC

Role 10% Owner

Bought 1,358 shs ($6K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F4, F2, F3	488	$3.9923	$2K
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F1, F2, F3	870	$4.0974	$4K
holding	Common Stock, par value $0.001 per share ("Common Stock") F3, F5	--	--	--

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,182,405 shares (Indirect, By Mink Brook Partners LP); Common Stock, par value $0.001 per share ("Common Stock") — 694,322 shares (Indirect, By Mink Brook Opportunity Fund LP)

Footnotes (5)

1. F1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.05 to $4.16 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.
2. F2. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.
3. F3. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
4. F4. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.955 to $4.11 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.
5. F5. Represents securities owned directly by Mink Brook Opportunity Fund LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

Key Figures

Shares purchased September 4, 2026: 870 shares Weighted average price September 4, 2026: $4.0974 per share Shares purchased September 8, 2026: 488 shares +3 more

6 metrics

Shares purchased September 4, 2026 870 shares Open-market purchase of DLH Holdings Corp. Common Stock by affiliated fund

Weighted average price September 4, 2026 $4.0974 per share Multiple transactions between $4.05 and $4.16

Shares purchased September 8, 2026 488 shares Open-market purchase of DLH Holdings Corp. Common Stock by affiliated fund

Weighted average price September 8, 2026 $3.9923 per share Multiple transactions between $3.955 and $4.11

Total shares purchased 1,358 shares Combined DLHC Common Stock purchases on September 4 and 8, 2026

Indirect holdings via Mink Brook Opportunity Fund LP 694,322 shares DLHC Common Stock reported as held indirectly as of September 4, 2026 entry

Key Terms

weighted average price, beneficially own, pecuniary interest, ten percent owner

4 terms

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially own financial

"may be deemed to beneficially own the securities owned directly by the Fund"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest"

ten percent owner regulatory

"reporting person is indicated as a ten percent owner of the issuer"

FAQ

What insider transactions in DLHC stock did Mink Brook Asset Management report?

Mink Brook Asset Management reported two open-market purchases of DLH Holdings Corp. Common Stock through an affiliated fund on September 4 and 8, 2026, totaling 1,358 shares acquired indirectly.

How many DLHC shares did Mink Brook Asset Management buy on September 4, 2026?

On September 4, 2026, an affiliated fund of Mink Brook Asset Management bought 870 DLHC shares at a weighted average price of $4.0974 per share in multiple transactions between $4.05 and $4.16.

How many DLHC shares did Mink Brook Asset Management buy on September 8, 2026?

On September 8, 2026, an affiliated fund of Mink Brook Asset Management bought 488 DLHC shares at a weighted average price of $3.9923 per share in multiple transactions between $3.955 and $4.11.

What indirect DLHC holdings does Mink Brook Opportunity Fund LP report?

A holding entry reports that 694,322 DLHC shares of Common Stock are held indirectly through Mink Brook Opportunity Fund LP, for which Mink Brook Asset Management is the investment manager.

Does Mink Brook Asset Management claim full beneficial ownership of the reported DLHC shares?

Footnotes state Mink Brook Asset Management and related entities may be deemed to beneficially own the reported DLHC shares but disclaim beneficial ownership except to the extent of their pecuniary interest.

Were the DLHC insider purchases made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates no Rule 10b5-1 trading plan for these DLHC transactions, and the footnotes do not describe any pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/08/2026 - 04:19 PM Accepted by SEC EDGAR 09/08/2026 - 04:19 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Mink Brook Asset Management LLC

(Last) (First) (Middle)

201 SUMMA STREET

(Street)

WEST PALM BEACH FLORIDA 33405

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DLH Holdings Corp. [ DLHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share ("Common Stock")	09/04/2026		P		870	A	$4.0974(1)	2,181,917	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	09/08/2026		P		488	A	$3.9923(4)	2,182,405	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")								694,322	I	By Mink Brook Opportunity Fund LP(3)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.05 to $4.16 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

2. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

3. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

4. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.955 to $4.11 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

5. Represents securities owned directly by Mink Brook Opportunity Fund LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

Remarks:

	/s/ William Mueller	09/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)